The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa
China’s cut of US dollar weighting in key index will boost global fortunes of yuan, economists say
- China has cut the US dollar weighting in a key yuan exchange rate index for only the second time since 2015
- The change will help reduce China’s reliance on the American currency and promote greater international use of the yuan in financial transactions
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China economy
The US dollar is expected to remain the settlement currency for most of China’s trade. Photo: Roy Issa